Aug 11 (Reuters) - Intel ( INTC ) CEO Lip-Bu Tan was due
to visit the White House on Monday after U.S. President Donald
Trump called for his removal last week, a source familiar with
the matter said.
Intel ( INTC ) and the White House did not immediately respond to
requests for comment.
Tan is expected to have an extensive conversation with Trump
while looking to explain his personal and professional
background, according to the Wall Street Journal, which broke
the news, adding that he could propose ways Intel ( INTC ) and the U.S.
government could work together, the paper said.
Tan hopes to win Trump's approval by showing his commitment
to the U.S. and guaranteeing the importance of keeping Intel's ( INTC )
manufacturing capabilities as a national security issue, the
Journal added.
Last week, Trump demanded the immediate resignation of Tan,
calling him "highly conflicted" due to his ties to Chinese firms
and raising doubts about plans to turn around the struggling
American chip icon.
It was a rare instance of a U.S. president publicly calling
for a CEO's ouster and sparked debate among investors.
Tan said he shared the president's commitment to advancing
U.S. national and economic security.
Reuters reported exclusively in April that Tan invested at
least $200 million in hundreds of Chinese advanced manufacturing
and chip firms, some of which were linked to the Chinese
military.
Tan, a Malaysian-born Chinese American business executive,
was also the CEO of Cadence Design ( CDNS ) from 2008 through
December 2021, during which time the chip design software maker
sold products to a Chinese military university believed to be
involved in simulating nuclear explosions.
Last month, Cadence agreed to plead guilty and pay more than
$140 million to resolve the U.S. charges over the sales, which
Reuters first reported.